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Speaking of this Week — July 18, 2003
December 31, 1969 |Estimated reading time: 3 minutes
By Christine F. Della Monaca
Speaking of this Week reflects on events in the electronics assembly industry every Friday.
Financial news, both good and bad, rises to the top this week, followed by news of partnerships and acquisitions. There's also tons of progress, news of tradeshows this year and next, regulatory news, a personnel announcement, and a prediction. We've got a lot of ground to cover, so let's get going:
- First, financial news: Boston-based Teradyne Inc. reported its second quarter results, seeing sales of $331.5 million and a net loss of $52.5 million, or 28 cents per share. Meanwhile, Portland, Ore.-based Electro Scientific Industries Inc.'s (ESI) audit committee reviewed the books, and as a result, the company will restate its financial statements for the fiscal year ended June 1, 2002, as well as the quarters ended August 31 and November 30, 2002. The company also will revise its announced results for the third fiscal quarter ended March 1, 2003. In other financial news, Milpitas, Calif.-based Solectron Corp. announced it is in compliance with its debt covenants, while St. Petersburg, Fla.-based Jabil Circuit Inc. will commence a public offering of senior unsecured notes.
- There's lots of companies coming together in a myriad of ways this week, even those who were formerly fighting with each other: Bonnigheim, Germany-based EKRA GmbH and Franklin, Mass.-based Speedline Technologies Inc. (also known as Cookson Electronics Equipment) will cross-license patented technologies relating to screen and stencil printing technology. The companies resolved their pending patent disputes, which were being heard before the U.S. International Trade Commission, the U.S. District Court for the District of Massachusetts and two separate German courts. You gotta love a happy ending. In the meantime, San Clemente, Calif.-based YESTech won a contract to provide AOI systems to Windsor, Conn.-based Accutron, while Kamaya Inc. appointed Boca Raton, Fla.-based NRC Electronics as a global franchised distributor for Kamaya Ohm resistor products. Washington, D.C.-based trade organization AeA teamed up with Cenquest to help technical companies make the most of their tuition reimbursement programs. Finally, on the acquisition front, Hialeah, Fla.-based Techdyne Inc. bought AG Technologies Inc., while Cambridge, Ontario, Canada-based ATS Automation Tooling Systems Inc. sold the intellectual property and key operating assets of its Eco-Snow Systems Inc. division to The BOC Group for US $6.4 million as part of a new alliance between the two companies.
- Lots of award news this week: Herzlia, Israel-based Tecnomatix Technologies Ltd. was named a Top 100 software company by MSI magazine. Wilsonville, Ore.-based Mentor Graphics Corp.'s customer support division was certified to the Support Center Practices (SCP) Certification program for the fourth year in a row. And Malvern, Pa.-based Vishay Intertechnology Inc.'s Electro-Films division was awarded Qualified Supplier Status by Glenrothes, Scotland-based Raytheon Systems Ltd.'s Power and Control division. Finally, Fort Myers, Fla.-based Fox Electronics Inc. opened a new, larger office in Hong Kong to support its growing business in the Asia-Pacific region.
- In tradeshow news, Northbrook, Ill.-based IPC — Association Connecting Electronics Industries announced the technical conference sessions taking place during its Annual Meeting in September, which will be held in Minneapolis. Meanwhile, Messe Müunchen GmbH decided to postpone the start of the Embedded in Munich with Embedded Systems Conference Munich until 2004 due to the current economic condition. The conference originally was to have taken place in November of this year.
- Legislative news: AeA reports than more than 220 small and mid-sized companies have signed a letter to Congress asking for the passage of stock option legislation that will block the Financial Accounting Standards Board's (FASB) proposal to expense stock options. Over at IPC, the association has put its support behind halogen flame retardants in the manufacture of PCBs and assemblies.
- Just one personnel announcement, but it's a big one: Santa Ana, Calif.-based ITT Industries Inc. named Brenda L. Reichelderfer as president of ITT Cannon.
- Finally, a prediction: Norwalk, Conn.-based Business Communications Co. Inc. sees the worldwide market for nanoscale devices and molecular modeling rising at an AAGR of 27.5 percent over five years, from $406 million in 2002 to $1.37 billion in 2007.
This just in: According to this week's Quick Vote, 88 percent of you did not attend SEMICON West, while 13 percent did.
Have some insight on the industry? See something you don't agree with? Think I'm right on? Send it all to me at mailto:christinef@pennwell.com.